Turkey's trade deficit widens in October

By Fatih Erkan Dogan

ANKARA (AA) - Turkish exports fell by 3 percent year-on-year in October and imports rose 0.5 percent over the same period, the Turkish Statistical Institute said Wednesday.

The monthly trade deficit rose 13.2 percent to $4.16 billion.

Exports for October were valued at $12.84 billion and the country imported $17 billion worth of goods and services.

In the first 10 months of 2016 exports fell 2.8 percent to $120.4 billion, according to the institute.

Exports to the EU, Turkey’s main trading partner, saw a 0.8 percent drop in October to $6.2 billion. Germany was the largest receiver of Turkish goods and services -- receiving $1.3 billion -- followed by the U.K. on $1.05 billion.

Turkish imports from China stood at $2.2 billion in October. Imports worth $1.75 billion came from Germany and Russia provided more than $1.2 billion in goods and services.